Dear Hitesh bhai,
I am new to technicals & still learning. Recently noticed that all the AMCs are breaking out with large volumes & yearly highs.
Fundamentally also, the results have been outstanding & the companies are still between 20-40 PE (HDFC AMC - 40 PE, Nippon - 33 PE, Aditya Birla Sunlife AMC - 20 PE). The clampdown on TERs also seems to be behind us now.
Does this indicate a sector rotation, with still reasonable valuations? Or am I missing something?
Also, on the charts, they seem to have recently broken out of Cup & Handle & W formations. Looking for thoughts (& corrections) from the experienced investors on the forum
Disc. : Invested in HDFC AMC from lower levels. Planning to enter Nippon AMC & Aditya Birla AMC based on above observations.
Charts for your easy reference :
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